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Empowering India's Marine Economy: The Role of Blue Bonds.



  Oct 23, 2023

SRIRAM’s Explainer: The Potential of Blue Bonds for India’s Marine Economy



What are Blue Bonds?

A sustainable bond specifically designed to finance projects that protect and restore oceans and their resources.
They are akin to green and social bonds but are ocean-specific.
They can be issued by governments, development banks, or other organizations.

Importance of Blue Bonds Globally:

A rise in the significance of ocean conservation has led to the popularity of blue bonds.
The United Nations Environment Programme Finance Initiative (UNEP FI) recently released guidelines for blue bonds, providing clarity on eligibility criteria and impact measurement.

How India Stands to Benefit:

India boasts a lengthy coastline and an expansive marine economy.
The government is enthusiastic about sustainable fisheries, aquaculture, and marine renewable energy.
Blue bonds can finance projects like offshore wind farms, wave energy converters, marine protected areas, sustainable fisheries, marine pollution prevention, and cleanup.
SEBI (Securities and Exchange Board of India) is working on guidelines for blue bonds in the country.

Challenges and Concerns:

Blue bonds are a relatively recent financial tool, leading to market liquidity concerns, potentially making them pricier than other bonds.
The definition of blue bonds isn’t universally agreed upon, complicating risk and return assessment for investors.

The Bigger Picture:

Blue bonds have the potential to substantially impact both the environment and economy positively.
With the right approach, India could leverage blue bonds to create a sustainable marine economy, benefiting both the environment and its citizens.

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